Fastenal (NASDAQ:FAST) Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC lowered its position in shares of Fastenal (NASDAQ:FAST) by 1.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 285,339 shares of the company’s stock after selling 5,095 shares during the quarter. Fastenal comprises about 1.4% of Motley Fool Asset Management LLC’s portfolio, making the stock its 15th largest position. Motley Fool Asset Management LLC’s holdings in Fastenal were worth $18,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. raised its holdings in Fastenal by 46.9% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock worth $31,000 after purchasing an additional 153 shares during the period. Empirical Asset Management LLC increased its stake in Fastenal by 2.4% during the 4th quarter. Empirical Asset Management LLC now owns 7,212 shares of the company’s stock worth $467,000 after buying an additional 171 shares in the last quarter. Berkshire Bank grew its position in shares of Fastenal by 3.1% in the third quarter. Berkshire Bank now owns 5,777 shares of the company’s stock valued at $316,000 after purchasing an additional 174 shares in the last quarter. OmniStar Financial Group Inc. grew its position in shares of Fastenal by 1.1% in the third quarter. OmniStar Financial Group Inc. now owns 15,960 shares of the company’s stock valued at $873,000 after purchasing an additional 174 shares in the last quarter. Finally, Koshinski Asset Management Inc. grew its position in shares of Fastenal by 3.8% in the fourth quarter. Koshinski Asset Management Inc. now owns 5,075 shares of the company’s stock valued at $329,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Robert W. Baird decreased their price target on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Stifel Nicolaus upped their price target on Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, HSBC upped their price target on Fastenal from $59.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Fastenal presently has an average rating of “Hold” and an average price target of $67.67.

Fastenal Stock Up 0.6 %

NASDAQ:FAST traded up $0.40 during trading hours on Thursday, hitting $68.14. The company’s stock had a trading volume of 2,711,229 shares, compared to its average volume of 4,015,482. The stock has a market capitalization of $39.01 billion, a P/E ratio of 33.73, a price-to-earnings-growth ratio of 3.53 and a beta of 1.05. The stock has a fifty day moving average of $73.45 and a 200-day moving average of $66.65. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. Fastenal has a 52-week low of $52.28 and a 52-week high of $79.04.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a return on equity of 33.98% and a net margin of 15.68%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the business posted $0.52 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Fastenal will post 2.12 earnings per share for the current year.

Fastenal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 dividend on an annualized basis and a yield of 2.29%. Fastenal’s payout ratio is currently 77.23%.

Insider Activity

In other news, insider Jeffery Michael Watts sold 19,420 shares of Fastenal stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the sale, the insider now directly owns 5,940 shares in the company, valued at approximately $417,285. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jeffery Michael Watts sold 19,420 shares of Fastenal stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total transaction of $1,364,255.00. Following the completion of the sale, the insider now directly owns 5,940 shares in the company, valued at approximately $417,285. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel L. Johnson acquired 3,350 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average price of $68.38 per share, with a total value of $229,073.00. Following the completion of the transaction, the director now directly owns 10,595 shares in the company, valued at $724,486.10. The disclosure for this purchase can be found here. In the last three months, insiders sold 36,082 shares of company stock worth $2,584,060. Company insiders own 0.41% of the company’s stock.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.